While I understand that gradual layoffs are less risky and easier for the organization to absorb, it seems short-sighted.
Delaying the inevitable will only cause more pain and damage in the long term.
It could be argued that it's reasonable to aim for pre-pandemic employee levels, given the drop in valuation, post-pandemic revenue decrease, and the significant loss in revenue from Apple's privacy changes.
This is just speculation and should be taken with a grain of salt. To achieve pre-pandemic employee levels, Facebook would need to cut an additional 20K employees.
If the objective is to boost efficiency and reduce expenses while minimizing negative impacts on the product, one can establish metrics to evaluate the outcome.
By examining metrics such as feature velocity, revenue, SRE, and usage, I believe you'll find the answer to your question.